Location: Wapello County, IA | Metro: Wapello County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
The ZIP code 52566 stands out due to its exceptionally low number of residents at just 266 individuals, making it one of the least populated areas under consideration. With only 4.3% of the population renting, this ZIP code is predominantly occupied by homeowners. However, the median income for residents is relatively modest at $58,750, which could indicate financial constraints among some tenants. Notably, there is no available data on the median home value, suggesting that either the housing market is not well-documented or there is insufficient variability in property values to establish a reliable median.
Moving to the voucher economics, the Fair Market Rent (FMR) for the metro area as of fiscal year 2026 is set at $1,060. This figure represents the benchmark rental price for the government's Section 8 program. In contrast, the local market rent is not available, leaving a gap in understanding how the FMR compares to actual rental prices in the area. This lack of market data can make it challenging to assess the effectiveness of the Section 8 vouchers in this ZIP code.
Given the data signature, ZIP 52566 appears to be a stable community with a strong preference for homeownership over renting. The low rental percentage and modest median income suggest that landlords might find limited demand for rental properties in this area, particularly if they rely on Section 8 vouchers. Landlords should be cautious about relying solely on voucher holders, as the absence of market rent data means there is uncertainty regarding the overall rental market dynamics. For small-portfolio investors, the stability of the community and the limited rental market could present both opportunities and challenges, depending on their investment strategy.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.